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Wednesday, 02 March 16
OIL MY GOD.....!!!!
 OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had been providing the world with about 2million barrels a day more than what demand supported.
Today oil is trading at its 12 year low, 70% down today since mid-2014. Low oil prices might be welcome by consumers and businesses, but economies, financial markets, oil and gas producers, are not on the same side of the table. We feel the need to focus on the present OPEC talks about a possible cut back in production so to lift prices off the low levels of today. Last week, Saudi Arabia and Russia the world’s biggest oil producers joined Venezuela, Kuwait and Qatar in an agreement to cap output. As per talks, all countries agree to cut back their respective production, with the prerequisite that this will be a unanimous decision by all.
It is very uncertain if Iran would participate in such decision, as finally being in a post-sanctions era, the country will try to regain market share and that will surely involve growing production. True expectation from this action is to find a better equilibrium and to match supply with demand as today supply still exceeds demand and record global oil stockpiles continue to mount. A production freeze would not create an immediate price shock, however if an agreement comes into place soon, we should see oil prices correcting upwards sometime in the 2nd half of this year.
Moving on to our industry, it is no secret that tankers have been enjoying great rates because of increased oil demand, while they have been also benefiting from low bunker prices. Bulkers, despite suffering severely due to low freights, have pretty much found a lifejacket in the form of low bunker costs, although –something that is not often said - slow steaming is no longer slow, which in itself has been weighing down on rates.
Although the effects of low oil prices on both tankers and bulkers have been widely discussed, little has been said for the positive effects that the Passenger and Ro-Pax sectors have been enjoying. About two years ago, bunker expenses where accounting for more than 65% of their voyage operating costs. Today that bunkers have been reduced by 70%, these costs represent about 20% of the present voyage costs.
Needless to say that currently and without taking into consideration any increase in demand for their services nor any increase in car/truck and passenger traffic, these ships have had a significant improvement in their generated net profits. On top of that, there is a lack of tonnage available particularly in the 110-130m LOA size and also in the 2,000-2,500 passenger capacity and 2,000-3,000 lane meter garage space. Not many ships were built post 2000 as prevailing bunker prices then made operation of these ships marginally profitable or non-profitable at all. Values of existing ships have increased, as the cash flow generated is attractive and lacking any replacement candidates.
To put it simply; the cost of replacement is practically the cost of building a new ship! All these factors have boomed the Ro-Pax business both domestically here in Greece as well as internationally and the prospects for this niche market seem very positive for the future times ahead. Interest is there to invest and also to build new ships based on LNG fueled and other innovative ship design developments.
By John N. Cotzias
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
Monday, 04 April 16
CAPE INDEX JUMPED 70% WEEK ON WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings h ...
Friday, 01 April 16
NINE AM - TIME TO GET AN INDONESIAN LANGUAGE VERSION OF YOUR CHARTERPARTIES - CLYDE & CO
KNOWLEDGE TO ELEVATE
For several years, Indonesian law (Article 31, Law Number 24 of 2009) has required that memoranda of understanding (" ...
Friday, 01 April 16
U.S. COAL PRODUCTION UP SLIGHTLY WEEK OVER WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.6 million shor ...
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- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
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